If you look at the chart you'll notice that it had gone up twice, and come down thrice, during the last 12 months, and the latest been an up trend. From 10th of September 2013 the stock has rallied till 21st October 2013, for a period of 27 days, from a low of 22.90, to a high of 32.50, which translates to a profit of 43%. The RSI on the 21st Oct was 77.08.
From the 22nd of Oct '13, the stock had retraced from a high of 32.00 to a low of 26.00, up to 26.11.2013. A drop of 18.75%.
From the 27th of Nov'13, the stock once again had rallied for another 21 days till yesterday the 30th instant. During this period it had given a return of 22.52%. The price range had been a low of 26.20 to a high of 32.10. The RSI had moved to a high of 78.97.
Based on the trend, it can be noticed that the low on the 10th of September had been 22.90, and the low of the 26th of Nov '13, was 26.00 to 26.20. This shows that the low has been higher, which suggests an up trend. However the high during the period of 10th Sept to date has been around 32.00(32.50 on the 21st Oct '13, and 32.10 on the 30th Dec'13. This shows that the present resistance is at the 32.00 area. The pivot point based on the high,low,close during the 27th Nov'13 to 30 Dec'13, is 30.00. Any opportunity to enter in to the stock around that price can be viewed, as fair by looking at the uptrend in the Stock coupled with the fundamentals for the stock, along with positive sentiments in and around the overall market.
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